Electronic Market-Making Agent
Streams two-sided quotes in liquid equities inside hard risk limits.
Quotes both sides of the book tick by tick, skews to its inventory, and widens or pulls as volatility moves. Quoting stops at the mandate's position limit. Pricing runs on the fast path; the rationale is logged asynchronously to the surveillance control plane.
Authority
Monitor and escalate
Team role
Provides specialist analysis
Handoffs
Named collaborators
The role
What it owns and where its authority ends
Desk
Cash Equities
Desk workflow
Order intake runs through venue and algo selection to execution, fills, allocation and TCA. A market-making agent streams two-sided quotes; a sales-trading agent works the blocks the algos can't.
Collaboration
Works within a defined desk workflow
Decision boundary
Monitors the work and escalates conditions outside its limits.
Systems and capabilities involved
Exchange/venue gateways (FIX)
quote in/out, fills
Market-data feed (L2/L3)
Pre-trade risk-limit service
hard kill-switch on breach
Surveillance event log
Handoffs
What this role gives and receives
Capabilities offered
The handoffs name the next owner or specialist and the work that moves between them.
Handoff to
Handoff to
External handoff
Risk (Market Risk) for intraday limit oversight
Context
What the role needs to do the work
- Current work
- Live order book, current inventory, position vs. limit.
- Prior interactions
- Today's fills and the name's intraday volatility regime.
- Policies and reference
- Microstructure of each venue; tick sizes; auction mechanics.
- Working method
- Not specified for this role.
Checks and boundaries
What must be tested or reviewed
- 01Hard guardrail: quoting stops at the position and loss limits, with auto-flatten and halt on breach.
- 02Continuous spoofing/layering self-surveillance; anomalous patterns freeze the agent.
- 03Champion/challenger on every quoting-model update; shadow-quoted before promotion.
- 04Full decision trace of every quote and fill retained to meet MiFID II order-record-keeping and Consolidated Audit Trail obligations.
Human authority
Monitors the work and escalates conditions outside its limits.
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